ING Groep NV Takes Position in Mohawk Industries, Inc. (NYSE:MHK)

ING Groep NV bought a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) in the 3rd quarter, Holdings Channel reports. The fund bought 4,006 shares of the company’s stock, valued at approximately $644,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA purchased a new stake in shares of Mohawk Industries during the second quarter worth approximately $85,997,000. Pacer Advisors Inc. increased its position in Mohawk Industries by 42.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock worth $136,349,000 after purchasing an additional 360,628 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Mohawk Industries by 10.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock worth $344,903,000 after buying an additional 292,661 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Mohawk Industries by 1,464.0% in the second quarter. Victory Capital Management Inc. now owns 227,357 shares of the company’s stock valued at $25,825,000 after buying an additional 212,820 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new position in Mohawk Industries during the second quarter worth $21,061,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Stock Down 0.0 %

Shares of NYSE MHK opened at $140.33 on Monday. The firm has a market cap of $8.86 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 1.54 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries, Inc. has a 1 year low of $82.71 and a 1 year high of $164.29. The firm’s 50 day moving average price is $150.79 and its 200 day moving average price is $136.68.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MHK shares. JPMorgan Chase & Co. boosted their target price on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Jefferies Financial Group boosted their price objective on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Truist Financial reduced their price target on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Bank of America raised shares of Mohawk Industries from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $120.00 to $177.00 in a research note on Friday, July 26th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.08.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 2,300 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $151.15, for a total value of $347,645.00. Following the completion of the transaction, the insider now directly owns 119,369 shares in the company, valued at approximately $18,042,624.35. This represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 17.10% of the company’s stock.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.